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Grammer AG completes refinancing ahead of schedule in a demanding market environment
“The new syndicated loan gives us substantially greater financial flexibility and forward planning visibility in the long term. The new contract reflects the banks’ confidence in our business performance,” explains Karsten Linke, Vice President Group Finance of the Grammer AG.
The transaction has been structured as a club deal by Grammer’s principal banks. The company’s solid business performance in 2019 in a challenging industry environment was among other things the decisive factor for the new credit facility. By signing a new syndicated loan agreement, Grammer AG has been able to improve its maturities profile and will also benefit from more attractive borrowing costs.
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